During his unsuccessful run for the Republican presidential nomination, Sen. John McCain, R-Ariz., put a national spotlight on campaign finance reform. (Photo Credit: CQ Photo/Scott J. Ferrell)

Arizona Sen. John McCain focused his recent White House bid on eliminating the influence of big money in U.S. elections, catapulting the issue to the forefront of the campaign debates. McCain and other reformers -- including Vice President Al Gore -- want to plug the legal loopholes that allow corporations and wealthy individuals to pour huge sums of “soft” money into their favorite political party's coffers. But supporters of the current system say further limits on campaign contributions would violate the First Amendment's guarantee of freedom of speech. Recent campaign finance proposals have gone nowhere in Congress, and the Supreme Court recently declined to pave the way for reform by striking down existing regulations.